Product Lifecycle Management Paradigm †Free Samples to Students

Question: Discuss about the Product Lifecycle Management Paradigm. Answer: Introduction: Resolute Winery is one of the family businesses dealing in selling wines to people. The company is headed by Mr. Main and oversee everything in the organization. Resolute started a long time back by Mr. Main's grandparents, who later handed the business to the leadership of Mr. Main's father, and now he is Mr. Main who is in charge. The business has eight more employees who work hand in hand to deliver services to their customers. The business has a hierarchical type of organization structure where the juniors have the bosses whom they report to. The structure, leadership, operations and the general culture of this company proof the hierarchical of the organization. Currently, Resolute Winery has dropped in its performance and its general productivity. In comparison to the previous days of the leadership of Mr. Mains grandparents, the organizations sales have dropped, and this is disturbing the companys president, Mr. Main. For some time now, he tried out various strategies, but most of them failed. Now, he has decided to hire a consultant to work for work for the organization. The approach seems to be more appropriate to handle the situation in the company (James, 2014). Problems and Challenges Facing Resolute Winery At the moment, various challenges are facing Resolute Winery. The organization is experiencing sluggish sales that are attributed to many issues. Firstly, there is a high turnover of members who are not from the family. Resolute Winery is one of the family businesses is greatly affected by this issue. The members who are not of the family feel that those from the corporate family have more opportunities than them. This has dragged the productivity of Resolute Winery. Also, the company experiences some family problems in its operations (Hanssan, 2012). There has an emotional, financial and physical effect among many others in the business. Mr. Main brings this out when he seems to be disturbed by a high turnover of people from outside the family. It affects the daily business of this organization. The company also has a problem of the space for operation. Dr. Marlena Michaels has observed that the organization has a problem of space. Space is small, and there is need to move to a better spacious room. This will help the organization to increase its productivity. It is also evident that Resolute Winery has a problem of the informal culture and structure (Blythe, 2009). The structure is not clear, and this affects the operation of this organization. The company lacks a formal mission, and this has an effect on the culture of this company and thus influences how the company does things. Also, the employees in this organization lack training. Some of them do not have the skills to pour wine for the customers which are a challenge to the company (Karniel Reich, 2011). Besides, the business lacks a plan for the next person to take over the business. There is no clear documentation that specifies the structure and flows on who takes over the business after Mr. Main. This affects the employee's performance because of this uncertainty. Mr. Main claims that the company is a family business and yet he does not have a supporting document regarding this claim. This is challenging and risky to the company since employees can team up to apply for the business (John, Katherine Jocz, 2012). SWOT Analysis for Resolute Winery SWOT analysis is one of the techniques used to evaluate the position. The technique focuses analyzing the Strength, Weaknesses, Opportunities, and Threats that the organization has. The analysis is important because it helps the management of the business to be in a better position to establish to make right decisions that help the business to grow. Firstly, Resolute Winery has many areas of strengths that can help it positively (Chermack Bernadette, 2007). The business has a big market and thus many customers. There is no point when the room has run out of the people who want to take wine, and this is a strength of the business. Also, the business has won two prizes which are important in the field. This is a strength of the organization and has a positive impact on its performance is used well (Mankiw Taylor, 2011). Resolute Winery, just like any other business also has its weaknesses. Being a family owned business, the organization has many weaknesses related to the ownership. The organization is affected by the emotional, physical and other challenges related to family issues (Charles, 2012). Also, the business lacks space to cry out its business. More often, the customers required space, and the saving room seemed to be more congested. This is a weakness of this company. The company also has some opportunities for its well-being. The market of the wine business is wide and thus presents an excellent opportunity for this organization to capitalize. The business is old in the market which is also an opportunity to this business. The company also enjoys a good political state and social state and has not had any bad issues from these aspects (Wooliscroft, 2011). Lastly, Resolute Winery also has some threats. The business is in danger of competitors in the field. Other organizations operating the wine business can take the market from Resolute Winery thus a threat. Recommendations and Conclusion As a recommendation, there are various aspects that Resolute Winery needs to consider for its development. The company needs to consider the structure and also train more employees to handle various tasks in the business. This is evidenced by the fact that wine pouring responsibility has been left for some employees and this reduces the profitability of the business. Also, Mr. Main should develop a willingness to handle the feedback from the customers and the employee in a better effective way. It is also recommended that Mr. Main should seek documents to proof that the business is family owned. This will reduce the risks of being overthrown by the ill intentioned people. It is also recommended that the business adopts a mission to guide in its business. The organization lacks a formal mission and vision statement which reduces the motivation and performance of the employee. Resolute Winery should consider incorporating this into its culture. Also, Mr. Main never enters the serving room and should change this habit towards improvement. He should increase the supervision in the operation room and correct where necessary to improve efficiency and effectiveness which in turn increases the organizations productivity. In conclusion, businesses can perform better if the well managed. The success of every business organization is greatly determined by the strategies that it takes in its operation. It is important to establish the strength and weaknesses to the efficient development of a given business enterprise. Also, organizations should conduct SWOT analysis to understand their internal environment. Considering these factors can have a positive impact on the productivity of the business enterprise. References Blythe, J. (2009). Key Concepts in Marketing. London: Sage Publications. ISBN978-1-84787-498-6. Charles, L. (2012). Essentials of Marketing (7ed.). Mason, OH: South-Western Cengage Learning. Chermack, J. Bernadette K. (December 2007). "The Use of and Misuse of SWOT analysis and implications for HRD professionals." Human Resource Development International.10(4): 383399. Hanssan, A. (2012). "Tax policy and the entrepreneurship: empirical evidence from Sweden." Small Business Economics. James, W. (2014). Your Small Business Adventure: Finding Your Niche and Growing a Successful Business. ALA/Huron Street Press. ISBN978-1-937589-44-8. John A., Katherine E. Jocz (2012). All Business is Local: Why Place Matters More than Ever in a Global, Virtual World. Penguin. Karniel, A. Reich, Y. (2011).Managing the Dynamic of the New Product Development Processes. A new Product Lifecycle Management Paradigm. Springer. pp.13.ISBN978-0-85729-569-9. Mankiw, N. Taylor, M. (2011). Economics (2nd ed., revised Ed.). Andover: Cengage Learning. Wooliscroft, B. (2011). Marketing Theory as History. Marketing Theory, 11(4), 499-501